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Premier League club Everton's $14.8M loss for the '11-12 season is "wore than expected."

EPL Everton FC announced losses of £9.1M ($14.8M) for the '11-12 season, which were "worse than had been expected," according to Scott Rutherford of the LONDON TIMES. The club's wage bill "soared by more than £5M ($8M) to a record £63.4M ($103M)." With Manager David Moyes trying to keep Everton in Champions League qualification contention after taking 36 points from its first 21 games of the season, "the club’s latest financial figures illustrates how the manager is handicapped when it comes to strengthening his squad."